Panama Becomes the Second Chokepoint as Crude Rates Correct

Crude earnings ease in the Atlantic while Panama Canal restrictions push gas transit costs to a record. Tankers: Crude rates remain high as the Atlantic cools VLCC earnings held near $230,000 per day in the week to 28 August, while Suezmax and Aframax earnings settled at approximately $179,000 and $100,000 per day. Atlantic rates eased […]

Limited vessel availability lifts earnings across crude, gas and vehicle segments

Fewer crude liftings and reduced Panama Canal transits are limiting vessel availability, while Chinese vehicle exports are increasing demand for car carriers. Tankers: Suezmax earnings rise to $238,000 per day, matching VLCCs Suezmax spot earnings rose 15% last week to approximately $238,000 per day, matching VLCC earnings. Fewer Middle East liftings are shifting more crude […]

Iran sanctions intensify as Gulf shipping risks rise

Iranian exports remain reduced, with significant risk attached to transiting the Strait of Hormuz. Sanctions replace military pressure as the main instrument US Treasury Secretary Scott Bessent is expected to announce new economic measures against Iran on Monday, shifting the focus from further military action towards sanctions. The measures could target Iran’s largest trading partners, […]

Suezmax Earnings Outperform VLCCs as Atlantic Crude Flows Grow

Suezmax earnings have averaged above VLCC levels in 2026 as growing Atlantic crude exports favour smaller cargo parcels and vessel availability remains tight. Suezmax earnings have outperformed VLCCs throughout 2026 Suezmax earnings rose 15% week over week to approximately $238,000 per day, matching VLCC earnings despite carrying roughly half the cargo. The strength extends beyond […]

Secondhand vessel values rise above newbuilding prices

Limited availability of prompt tonnage is pushing buyers to pay a premium for ships that can trade today, while newbuildings ordered now will not deliver until 2029. Delivery timing is driving a widening premium for modern tonnageSecondhand crude tanker values have risen above newbuilding prices, reflecting the scarcity of vessels available to trade immediately. A […]

Hormuz closure holds as US-Iran tensions persist

Iran has set conditions for reopening that Washington has rejected, keeping Gulf crude exports constrained and tanker earnings elevated. Reopening remains dependent on conditions Washington has rejectedIran’s lead negotiator has stated that the Strait of Hormuz will remain closed until the United States lifts its naval blockade, removes oil sanctions and ends military operations. President […]

Crude earnings remain elevated as the Strait of Hormuz stays closed

Disrupted Middle East loadings are shifting crude demand towards the Atlantic, while constraints in the Panama Canal and limited PCTC supply continue to support rates. Tankers: Suezmax earnings rise to above $200,000 per day as crude demand shifts to the AtlanticSuezmax earnings rose 13% to above $200,000 per day, the highest level this year, driven […]

Changing trade routes shift demand for tanker tonnage

The East-West pipeline is becoming increasingly important to Saudi Arabia’s crude export system as more volumes are shipped from the country’s west coast. Saudi Arabia is increasingly transporting crude through the East-West pipeline to the export terminal at Yanbu on the country’s west coast. From there, crude can be shipped via the Red Sea to […]

Saudi Arabia increases crude exports via Yanbu

The East-West pipeline is becoming increasingly important to Saudi Arabia’s crude export system as more volumes are shipped from the country’s west coast. Saudi Arabia is increasingly transporting crude through the East-West pipeline to the export terminal at Yanbu on the country’s west coast. From there, crude can be shipped via the Red Sea to […]

Shipping markets remain elevated as disruption tightens effective supply

Tanker and gas markets remain supported by constrained trade routes and limited prompt tonnage, while geopolitical disruption continues to reshape vessel availability Tankers: Suezmax rates surge as Atlantic tonnage tightens Crude tanker markets remained exceptionally strong this week, with Suezmaxes taking the lead as Atlantic availability tightened. Average Suezmax rates increased 13% to above $200,000/day, […]